| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 30 June 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 18.68 hectares of land at 159 Levels Plain Rd, RD 4, Timaru. |
| Consideration | $760,000 |
| Applicant | Kerrytown Road Orchards LP Walter George Meyer, William Jeffrey Meyer, Robert Scott Meyer and Megan Meyer Tweedy, United States of America (25.0%) Dalton Blake Thomas and Pamela Lee Thomas, United States of America (25.0%) Bruce Douglas Allen and Julie Marie Allen, United States of America (25.0%) Christopher Linder Clark, United States of America (24.85%) Gregory DeCicio Clark, United States of America (0.15%) |
| Vendor | Clifdon Lewis Shortus New Zealand (100%) |
| Background | The Applicant, and related entities, are establishing Honeycrisp apple orchards in South Canterbury. The Applicant considers South Canterbury's temperate climate ideal for growing this variety and intends to export the majority of the apples produced, primarily to the USA. The Applicant has already acquired several properties and planted them with Honeycrisp apple trees. The investment will increase the number of Honeycrisp apple trees in South Canterbury and further the Applicant's expansion plans. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140 |